TrueMark Investments LLC Invests $640,000 in Cogent Communications Holdings, Inc. $CCOI

TrueMark Investments LLC acquired a new stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 29,662 shares of the technology company’s stock, valued at approximately $640,000. TrueMark Investments LLC owned about 0.06% of Cogent Communications as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Quarry LP bought a new position in Cogent Communications in the third quarter valued at $27,000. GAMMA Investing LLC lifted its position in Cogent Communications by 466.9% during the 4th quarter. GAMMA Investing LLC now owns 2,262 shares of the technology company’s stock worth $49,000 after buying an additional 1,863 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Cogent Communications by 80.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,336 shares of the technology company’s stock worth $51,000 after buying an additional 596 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Cogent Communications by 333.7% during the 3rd quarter. Versant Capital Management Inc now owns 1,557 shares of the technology company’s stock worth $60,000 after buying an additional 1,198 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new position in shares of Cogent Communications in the 3rd quarter valued at about $79,000. Institutional investors own 92.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CCOI. Williams Trading set a $40.00 target price on Cogent Communications in a research report on Monday, February 23rd. Royal Bank Of Canada decreased their price target on Cogent Communications from $23.00 to $22.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 18th. KeyCorp lowered their price target on Cogent Communications from $30.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, February 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Cogent Communications in a report on Monday, December 22nd. Finally, TD Cowen reissued a “buy” rating on shares of Cogent Communications in a research note on Monday, February 23rd. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cogent Communications currently has a consensus rating of “Hold” and an average price target of $26.67.

Cogent Communications Trading Down 0.9%

Shares of NASDAQ:CCOI opened at $17.46 on Tuesday. Cogent Communications Holdings, Inc. has a 52-week low of $15.96 and a 52-week high of $62.25. The company has a debt-to-equity ratio of 49.06, a quick ratio of 2.04 and a current ratio of 2.04. The company has a market capitalization of $874.05 million, a P/E ratio of -4.58 and a beta of 0.84. The company has a 50-day simple moving average of $22.14 and a 200 day simple moving average of $26.96.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings results on Friday, February 20th. The technology company reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.45. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 18.67%.The firm had revenue of $240.52 million for the quarter, compared to the consensus estimate of $243.82 million. During the same quarter in the previous year, the business earned ($0.91) earnings per share. The business’s revenue was down 4.7% compared to the same quarter last year. Sell-side analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, March 6th. Cogent Communications’s dividend payout ratio is -2.10%.

Insiders Place Their Bets

In other Cogent Communications news, VP Henry W. Kilmer sold 2,400 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $23.35, for a total transaction of $56,040.00. Following the completion of the sale, the vice president owned 41,000 shares of the company’s stock, valued at $957,350. This trade represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sheryl Lynn Kennedy sold 3,300 shares of Cogent Communications stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $22.99, for a total transaction of $75,867.00. Following the transaction, the director directly owned 10,100 shares of the company’s stock, valued at approximately $232,199. This trade represents a 24.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,756 shares of company stock worth $292,467 in the last quarter. Insiders own 4.20% of the company’s stock.

Cogent Communications Profile

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.